Agenda item - Audit Findings Report 2020-21

Report of External Audit

1)             That the Audit & Standards Committee note the findings set out in the 2020/21 Audit Findings Report, asks questions of the auditor as necessary and raises any other matters relevant to the audit of the financial statements.

24.1      The Committee considered the Audit Findings Report (AFR) that summarised the findings of the 2020/21 audit by the council’s appointed auditor, Grant Thornton, which was substantially complete. It included the key messages arising from the audit of the financial statements and the results of work undertaken to assess the Authority’s arrangements to secure value for money in its use of its resources.

24.2      In response to a question from Councillor Hugh-Jones, the External Auditor confirmed that there had been a downward trend in the valuation of retail outlets relating to the pandemic.

24.3      In response to a question from Helen Aston, the Acting Chief Finance Officer confirmed that new processes had been put in place in response to the finding made by External Audit.

24.4      In response to a query from Councillor Hugh-Jones, the External Auditor stated that there was generally a time lag with government initiatives and how they were factored into auditing standards and it could well be the case that climate related financial disclosure became part of the standard audit.

24.5      RESOLVED-

1)             That the Audit & Standards Committee note the findings set out in the 2020/21 Audit Findings Report, asks questions of the auditor as necessary and raises any other matters relevant to the audit of the financial statements.